Archive · 2 Sep 2026
Three more UK companies leave LSE as buyers circle
Three companies listed in London are being bought and will leave the stock market.
Bodycote is being bought by Veritas for £1.84bn.
Gamma Communications has recommended a £1.1bn offer from Epiris.
Capricorn is being bought by DNO for $396m.
These deals are part of almost $110bn in takeovers removing companies from the London market this year.
Shareholders may like these deals because buyers often pay extra money for their shares.
However, analysts worry that London will have fewer strong companies to invest in.
The buyers say private ownership could give the companies more freedom to invest and plan for the future.
Bodycote agreed to a £1.84bn takeover by US private equity firm Veritas, while CVC considers a possible counteroffer.
Gamma Communications recommended a £1.1bn offer from UK private equity group Epiris after talks with Waterland.
Capricorn agreed to a $396m takeover by Norwegian rival DNO after switching from a recommended Genel Energy offer.
Deals removing UK-listed companies from the London Stock Exchange have reached almost $110bn this year, according to Bloomberg data.
Analysts say shareholders may benefit from takeover premiums, but London risks losing breadth and attractiveness if departures continue.
- Who
- Bodycote, Gamma Communications and Capricorn, along with their proposed buyers Veritas, Epiris and DNO.
- What
- The three UK-listed companies agreed or recommended takeover deals that would remove them from the London Stock Exchange.
- When
- This year; the article does not specify dates for the individual deals.
- Where
- The London Stock Exchange; Bodycote is based in Macclesfield, and Capricorn is described as a Scottish energy company.
- Why
- The buyers and companies cited greater flexibility, investment capacity and a longer-term focus under private ownership; the deals also offer shareholders takeover premiums.
Shareholder and buyer benefits
London market concerns
Immediate shareholder returns
Shareholder and buyer benefits
Shareholders may welcome takeover premiums because buyers generally offer more than the existing market price to persuade investors to sell.
London market concerns
The immediate payoff may come at the cost of losing established companies from London’s public market.
Private ownership
Shareholder and buyer benefits
Veritas and Epiris said private ownership would provide greater flexibility and support longer-term investment and growth.
London market concerns
Analysts question the broader effect of repeatedly moving companies away from public markets, particularly for the breadth and quality of the London exchange.
London’s future attractiveness
Shareholder and buyer benefits
The deals show that British companies remain attractive enough for private equity firms and overseas rivals to acquire.
London market concerns
If companies leave while fewer new businesses list in London, the exchange could become smaller and less attractive to investors, creating a difficult cycle.
- Total value of departures
- Almost $110bn in deals removing UK-listed companies from the London Stock Exchange this year, according to Bloomberg data.
- Bodycote deal
- £1.84bn takeover by US private equity firm Veritas.
- Gamma Communications deal
- £1.1bn offer recommended from UK private equity group Epiris.
- Capricorn deal
- $396m takeover by Norwegian rival DNO.
- Other major departure
- EasyJet agreed a £5.7bn takeover by US private equity firm Apollo.
- Market concern
- AJ Bell investment director Russ Mould warned that continued overseas acquisitions could reduce London’s stock-market breadth and quality.